Nitrous Oxide Market was valued US$ 789.12 Mn in 2017 and is estimated to reach US$ 1441.12 Mn by 2026 at a CAGR of about 7.0% during a forecast.
Nitrous oxide or laughing gas is a colorless and non-flammable gas with a little bit sweet odor, which is widely used for various medical and non-medical applications. The use of nitrous oxide in the medical sector have a minimal impact on the environment. Nitrous oxide is primarily used as an inhalation anesthetic product in medicines. Administration of this product is mainly accompanied by simultaneous administration of a volatile agent such as ethrane, halothane, etc. However, strict rules and regulations over the possession, transportation, and usage are posing a challenge to the growth of the market. Usage of medical gases and their associated equipment is regulated by the Center for Drug Evaluation and Research and the U.S. Food and Drug Administration. These guidelines reveal practices and procedures for compressed medical gas fillers, including home respiratory services. Manufacturers are compelled to comply with rules and guidelines laid down for the manufacturing and marketing of medical gases.
Nitrous Oxide Market
Nitrous oxide market is segmented into application, and region. On the basis of application, Medical was the largest application segment in 2017 and the trend is anticipated to continue throughout the forecast period. It is used as anesthetic agents for various therapeutic indications. In dental procedures during tooth extraction or other brief procedures, nitrous oxide have been a non-substitutable agent. In modern automobiles, nitrous oxide is used to importantly boost engine power by increase in the oxygen content of the fuel mixture, thus enabling the engine to burn more fuel. The plurality of nitrous oxide systems are installed on trucks, motorcycles, snowmobiles, all-terrain vehicle, and cars. It is also hardly used as insufflating agent in laparoscopy and in cryosurgery as a refrigerant. However, legislation refer to use of nitrous oxide in road vehicles varies from country to country, even within Europe.
In terms of region, North America is the leading revenue contributor in the global nitrous oxide market. Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. Majority of aging population suffers from chronic diseases.
Key Players Profiled and Analised in the Report
Praxair Technology, Inc., Oxygen & Argon Works Ltd., The Linde Group, Matheson Tri-Gas, Inc., SOL Spa, Merck KGaA, Air Liquide, Airgas, Inc., and Ellenbarrie Industrial Gases Ltd.
Scope of the Nitrous Oxide Market
Nitrous Oxide Market by Application
- Food & Beverages
Nitrous Oxide Market by Geography
- North America
- Middle East & Africa
- Latin America
Key Players operating in the Nitrous Oxide Market
- Praxair Technology, Inc.
- Oxygen & Argon Works Ltd
- The Linde Group
- Matheson Tri-Gas, Inc.
- SOL Spa
- Merck KGaA
- Air Liquide
- Airgas, Inc.
- Ellenbarrie Industrial Gases Ltd
- Promas Engineers Pvt. Ltd.
- SS Gas Lab Asia
- KVK Corporation
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